Setra sells mouldings mill
17 June 2011Setra is selling its Kvarnåsen processing in Norsjö three months after the facility stopped production.
Buyer Kvarnåsen Trä AB is a new company which intends to run a specialised moulding production and sales operation in the Scandinavian market.
“We are very happy that Kvarnåsen now has a new owner that can focus fully on continuing to develop production and sales of high quality mouldings,” says Börje Bengtsson, president and CEO of Setra.
“This is good for the district and will also lead to job opportunities in the future.”
The new company is backed by venture capital groups and the CEO will be former Kvarnåsen site manager Britt-Inger Marklund.
“Kvarnåsen is a first-rate plant in which Setra has invested considerably,” said Mr Marklund.
“We are convinced that a specialised mouldings business can be developed in a profitable way. The mouldings paint shop is one of Sweden’s most modern facilities and maintains a high environmental standard.”
He said the location in northern Sweden gave access to mature pine – extremely important in the production of mouldings.
Setra's board of directors took the decision to wind up the Kvarnåsen processing unit in autumn 2010. Its intention was to sell the unit if possible and, if not, to shut it down. Production at the plant has been at a standstill since mid-March.
The acquisition process started on June 15.
